Which of the Following Is NOT an Example of the Fallacy

question 85

Multiple Choice

Which of the following is NOT an example of the fallacy of composition?  

• A) If I can get to work fastest by taking the highway, then so can everyone else. 
• B) If it is possible to get away from it all only by going to Alaska, then everyone who needs to get away should go to Alaska. 
• C) If the quickest way to get off a sinking ship is to run to the nearest lifeboat, then all the passengers should do this. 
• D) If a Couch Potato antenna provides the best TV reception, then everyone should have a Couch Potato antenna.

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Definitions:

Resource Prices

The costs associated with acquiring the inputs needed for production, including raw materials, labor, and capital.

Industry Expands

The process of growth within a particular sector due to factors like increased demand, technological advancements, or entry of new businesses.

Competitive Price-taker Market

A market structure where sellers accept the market price as given, having no control over it due to perfect competition.

Long-run Equilibrium

A state in which all factors of production and costs are variable, allowing firms to enter or exit the market, ultimately resulting in no economic profit for the firms in a perfectly competitive market.